During 1863, demand for US currency continued to grow. The Civil War was raging and people were looking to the new currency to make transactions. Gold and silver was being hoarded and merchants weren’t required to provide exact change. The 1863 Indian Head Cent allowed people to make exact change and hang on to more of their assets.
The 1863 Indian Head Penny also marks a short period in time when the coins were made using a combination of 88% copper and 12% nickel. This created a coin that is heavier and whiter than modern day pennies. During this time, they were nicknamed “nicks” or “nickels.”
Design Details
This version of the one cent coin is basically the same as the two previous years. The indian head design features a profile portrait of the goddess Liberty donning an traditional indian chief headdress. While there are rumors that the head was modeled after the daughter of the designer James Barton Longacre, this theory has never been substantiated.
The reverse side of the coin includes an oak wreath with a shield placed at the top and the words “one cent” in the middle. It has a plain edge and is regarded as a well struck coin.
1863 Indian Head Penny Value
While the coin is over 150 years old, there are still many available, which tends to drive down the value. A coin in average condition will go for around $10. Even uncirculated versions in excellent condition can be bought for less than $100.
Type of coin: One Cent
Year: 1860 Indian Head Penny
Mint Mark: Philadelphia
Total mintage: 49,840,000
Metal content: 88% Copper and 12% Nickel
Face value: One Cent
Weight: 4.70 grams
Edge: Plain
Designer: James Barton Longacre
Diameter: 19 millimeters